GreenPoint Home Equity Loan Trust 2003-1 Monthly Payment Date Statement (December 2003)
This document is a monthly distribution statement prepared by The Bank of New York for GreenPoint Mortgage Securities Inc. and the GreenPoint Home Equity Loan Trust 2003-1. It summarizes the distribution of principal and interest payments to certificateholders of the Home Equity Loan Asset-Backed Notes, Series 2003-1, for the December 15, 2003 payment date. The statement details the amounts distributed, loan pool performance, delinquencies, realized losses, and reserve account balances, providing investors with key financial and performance data for the trust during the reporting period.
Exhibit 10.1
| THE BANK OF NEW YORK | ||
| 101 Barclay Street, 8 West | Distribution Date: 12/15/03 | |
| New York, NY 10286 | ||
| Officer: Trish O’Neill-Manella ###-###-#### | ||
| Associate: Cirino Emanuele ###-###-#### |
GreenPoint Mortgage Securities Inc.
GreenPoint Home Equity Loan Trust 2003-1
Home Equity Loan Asset-Backed Notes
Series 2003-1
Certificateholder Monthly Distribution Summary
| Class | Cusip | Class Description | Certificate Rate Type | Beginning Balance | Pass Through Rate (%) | Principal Distribution | Interest Distribution | Total Distribution | Current Realized Losses | Ending Balance | Cumulative Realized | |||||||||||
| A | 395385AP2 | Senior | Var-Act/360 | 213,807,211.31 | 1.390000 | 10,649,032.35 | 231,149.35 | 10,880,181.70 | — | 203,158,178.97 | 0.00 | |||||||||||
| R | N/A | Senior | Fix-30/360 | — | 0.000000 | — | — | — | — | — | 0.00 | |||||||||||
| Totals | 213,807,211.31 | 10,649,032.35 | 231,149.35 | 10,880,181.70 | — | 203,158,178.97 | 0.00 |
Principal Distribution Detail
| Class | Cusip | Original Certificate Balance | Beginning Certificate Balance | Scheduled Principal Distribution | Accretion Principal | Unscheduled Principal Adjustments | Net Principal Distribution | Current Realized Losses | Ending Certificate Balance | Ending Certificate Factor | ||||||||||
| A | 395385AP2 | 290,418,000.00 | 213,807,211.31 | 10,649,032.35 | — | — | 10,649,032.35 | — | 203,158,178.97 | 0 ###-###-#### | ||||||||||
| R | N/A | — | — | — | — | — | — | — | — | 0.00000000000 | ||||||||||
| Totals | 290,418,000.00 | 213,807,211.31 | 10,649,032.35 | — | — | 10,649,032.35 | — | 203,158,178.97 |
Interest Distribution Detail
| Class | Beginning Certificate Balance | Pass Through Rate (%) | Accrued Optimal Interest | Cumulative Unpaid Interest | Deferred Interest | Total Interest Due | Net Prepayment Int Shortfall | Unscheduled Interest Adjustment | Interest Paid | |||||||||
| A | 213,807,211.31 | 1.390000 | 231,149.35 | — | — | 231,149.35 | — | — | 231,149.35 | |||||||||
| R | — | 0.000000 | — | — | — | — | — | — | — | |||||||||
| Totals | 213,807,211.31 | 231,149.35 | — | — | 231,149.35 | — | — | 231,149.35 |
Current Payment Information
Factors per $1,000
| Class | Cusip | Original Certificate | Beginning Cert. Balance | Principal Distribution | Interest Distribution | Ending Cert. Balance | Pass Rate (%) | |||||||
| A | 395385AP2 | 290,418,000.00 | 736.205095114 | 36 ###-###-#### | 0 ###-###-#### | 699 ###-###-#### | 1.390000 | |||||||
| R | N/A | — | 0.000000000 | 0.000000000 | 0.000000000 | 0.000000000 | 0.000000 | |||||||
| Totals | 290,418,000.00 | 736.205095114 | 36 ###-###-#### | 0 ###-###-#### | 699 ###-###-#### |
| Pool Level Data | ||||
| Distribution Date | 12/15/03 | |||
| Cut-off Date | 5/1/2003 | |||
| Determination Date | 12/1/2003 | |||
| Accrual Period 30/360 | Begin | 11/1/2003 | ||
| End | 12/1/2003 | |||
| Number of Days in 30/360 Accrual Period | 30 | |||
| Accrual Period Actual Days | Begin | 11/17/2003 | ||
| End | 12/15/2003 | |||
| Number of Days in Actual Accrual Period | 28 | |||
Collateral Information
| Group 1 | |||
| Cut-Off Date Balance | 287,542,470.48 | ||
| Beginning Aggregate Pool Stated Principal Balance | 217,381,944.01 | ||
| Ending Aggregate Pool Stated Principal Balance | 207,507,453.30 | ||
| Beginning Aggregate Certificate Stated Principal Balance | 213,807,211.13 | ||
| Ending Aggregate Certificate Stated Principal Balance | 203,158,178.97 | ||
| Beginning Aggregate Loan Count | 5165 | ||
| Loans Paid Off or Otherwise Removed Pursuant to Pooling and Servicing Agreement | 225 | ||
| Ending Aggregate Loan Count | 4940 | ||
| Beginning Weighted Average Loan Rate (WAC) | 6.755422 | % | |
| Ending Weighted Average Loan Rate (WAC) | 6.731667 | % | |
| Beginning Net Weighted Average Loan Rate | 6.248422 | % | |
| Ending Net Weighted Average Loan Rate | 6.224667 | % | |
| Weighted Average Maturity (WAM) (Months) | 207 | ||
| Aggregate Pool Prepayment | 8,035,983.54 | ||
| Pool Prepayment Rate | 36.8659 CPR | ||
| Certificate Account | |||
| Beginning Balance | 0.00 | ||
| Deposit | |||
| Payments of Interest and Principal | 10,999,199.66 | ||
| Liquidation Proceeds | 0.00 | ||
| All Other Proceeds | 0.00 | ||
| Other Amounts | 0.00 | ||
| Total Deposits | 10,999,199.66 | ||
| Withdrawals | |||
| Reimbursement of Servicer Advances | 0.00 | ||
| Payment of Master Servicer Fees | 90,575.81 | ||
| Payment of Sub Servicer Fees | 0.00 | ||
| Payment of Other Fees | 0.00 | ||
| Payment of Insurance Premium(s) | 0.00 | ||
| Payment of Personal Mortgage Insurance | 0.00 | ||
| Other Permitted Withdrawal per the Pooling and Service Agreement | 28,442.15 | ||
| Payment of Principal and Interest | 10,880,181.70 | ||
| Total Withdrawals | 10,999,199.66 | ||
| Ending Balance | 0.00 | ||
Delinquency Information
Group 1
| Delinquency | 30-59 Days | 60-89 Days | 90-179 Days | 180-269 Days | 270+ Days | Totals | ||||||||||||
| Scheduled Principal Balance | 3,220,605.85 | 620,589.68 | 1,033,381.98 | 602,661.82 | 0.00 | 5,477,239.33 | ||||||||||||
| Percentage of Total Pool Balance | 1,552043 | % | 0.299069 | % | 0.497998 | % | 0.290429 | % | 0.000000 | % | 2.639539 | % | ||||||
| Number of Loans | 91 | 16 | 29 | 6 | 0 | 142 | ||||||||||||
| Percentage of Total Loans | 1.842105 | % | 0.323887 | % | 0.587045 | % | 0.121457 | % | 0.000000 | % | 2.874494 | % | ||||||
| Foreclosure | ||||||||||||||||||
| Scheduled Principal Balance | 910,408.42 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.438735 | % | ||||||||||||||||
| Number of Loans | 11 | |||||||||||||||||
| Percentage of Total Loans | 0.222672 | % | ||||||||||||||||
| Bankruptcy | ||||||||||||||||||
| Scheduled Principal Balance | 174,031.89 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.083868 | % | ||||||||||||||||
| Number of Loans | 6 | |||||||||||||||||
| Percentage of Total Loans | 0.121457 | % | ||||||||||||||||
| REO | ||||||||||||||||||
| Scheduled Principal Balance | 0.00 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.000000 | % | ||||||||||||||||
| Number of Loans | 0 | |||||||||||||||||
| Percentage of Total Loans | 0.000000 | % | ||||||||||||||||
| Book Value of all REO Loans | 0.00 | |||||||||||||||||
| Percentage of Total Pool Balance | 0.000000 | % | ||||||||||||||||
| Current Realized Losses | 71,272.51 | |||||||||||||||||
| Additional Gains (Recoveries)/Losses | 0.00 | |||||||||||||||||
| Total Realized Losses | 228,199.87 | |||||||||||||||||
Reserve Fund Information
| Demand Note Reserve Account | ||
| Beginning Balance | 2,875,529.52 | |
| Deposits | 0.00 | |
| Accrued Interest | 0.00 | |
| Withdrawals | 0.00 | |
| Ending Balance | 2,875,529.52 |
OVERCOLLATERALIZATION REPORTING
| Ending Overcollateralization Amount | 4,349,274.33 | |
| Specified Overcollateralization Amount | 7,730,957.40 | |
| Overcollateralization Reduction Amount | 0.00 | |
| Excess Interest used as Accelerated Principal | 845,814.15 | |
ADDITIONAL REPORTING ITEMS
| Cumulative losses as percentage of original Pool Balance | 0.07936214 | % | |
| Cumulative losses as percentage of current Pool Balance | 0.10997189 | % | |
| 12-month rolling average of cumulative losses as percentage of original Pool Balance | 0.13393751 | % | |
| 3-month rolling average of Mortgage Loans 60+ days delinquent | 0.00991178 | ||
| Relief Act Shortfall | 0.00 | ||
| Gross Prepayment Interest Shortfall | 0.00 | ||
| Net Prepayment Interest Shortfall | 0.00 | ||
| Total outstanding principal balance of 3 largest Mortgage Loans | 1,059,123.97 | ||
| Draw Amount | 2,048,837.10 | ||
